Advanced Battery Technologies Inc. (fka ABAT)

[Ecomike]

ABAT verifying (physical) assets.

Year / Equity placement / Shareholder's Equity

2010 / 28.5 / 205
2009 / 40.8 / 132
2008 / 20.4 / 76
2007 / 0 / 36
2006 / 0 / 21

Equity placement total = $89.7M
Shareholder's Equity increased by $184M

If the company wasn't profitable, how did it do that?

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http://abat.sys145.pkulab.com/a/English/ABOUT_US/Group_Profile/list_42_1.html
Subsidiary / Total area (sqm) / Floor space (sqm)

Harbin / 136,000 / 70,000
Wuxi / 80,000 / 35,000
Dongguan / 105,000 / 55,000

Dongguan was an $83M investment. We've all seen the pictures and videos. Total floor space is roughly 3x the size of Dongguan.....

If the company wasn't profitable, how did it do that?
How did it purchase inventory? How about prepaid expenses? etc.

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2010
http://www.sec.gov/Archives/edgar/data/745651/000109690611000507/abat10k20101231.htm
Proceeds from equity financing, net $28,471,500

2009
http://www.sec.gov/Archives/edgar/data/745651/000109690610000346/abat10k20091231.htm
Proceeds from issuance of stock, net $40,788,717

2008
http://www.sec.gov/Archives/edgar/data/745651/000109690609000214/advancedbatteryform10k123108.htm
Proceeds from issuance of common stock, net $20,356,480

2007
http://www.sec.gov/Archives/edgar/data/745651/000129092908000015/abat10ksb2007.htm
Net cash provided by (used in) financing activities 776,826 (loan)

2006
http://www.sec.gov/Archives/edgar/data/745651/000129092907000111/abat10ksba2006.htm
Net cash provided by (used in) financing activities (4,628,672) (repayments loan)